Collision insurance: How it all works + MORE Dec 13th

There are more insurance options in Canada than you can shake a stick at! Stay on top of the best policies right here.
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You’ve done the impossible. You found the perfect apartment (hello, exposed brick!), and it’s actually within your budget. You’re about to sign the lease when your new landlord mentions that you need to have proof of tenant insurance before moving in. Why are they making you get tenant insurance?
In short, most landlords will require you to purchase tenant insurance prior to moving in, as they want to ensure occupants have the proper coverage in place should something go wrong, so neither of you are on the line for the cost of damage. However, not having adequate insurance in place can lead to disastrous consequences for both parties. Let’s break it down.
Tenant liability protection
Tenant liability protection is the type of coverage that most landlords will require, while contents coverage and additional living expenses can be seen as added bonuses to any tenant insurance policy. This coverage is designed to protect the policyholder in the event a liability claim is made against them, whether that be at an event in their home, or on a beach in Barbados…

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Collision insurance is “extra.” It’s optional coverage that you can add on top of your basic full auto insurance, which, on its own, doesn’t cover you if you’re in an accident and you’re at fault. Many drivers opt in for collision, mainly because of the variable Canadian weather, road conditions, traffic and other causes of unexpected accidents. What else do you need to know? Read on. 
What is collision insurance? 
Collision insurance works in addition to other auto insurances mandated by most provinces in Canada, including third-party liability insurance, statutory accident benefits coverage, uninsured automobile coverage and direct compensation-property damage coverage. Collision insurance is an optional insurance, and it covers costs related to the repair or replacement of your vehicle if you are involved in an accident. 
“If you’ve been involved in a crash, you’re deemed to be fully at fault, and you don’t have collision coverage, the damage to your vehicle wouldn’t be paid for by your insurance company,” says Pete Karageorgos, director of consumer and industry relations at the Insurance Bureau of Canada (IBC)…

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